European Council Announces Provisional Approval of Proposed Regulation on Combatting VAT Fraud

The Council of the European Union May 5 provisionally approved a regulation amending Regulation (EU) No. 904/2010, to strengthen cooperation on VAT fraud between EU states, the European Public Prosecutor’s Office (EPPO), and the European Anti-Fraud Office (OLAF). The regulation includes measures to: 1) grant access to EPPO and OLAF to EU-level VAT information; 2) require Eurofisc to provide analysis reports and relevant information on suspected cross-border VAT fraud to EPPO, and on customs-related VAT fraud affecting EU financial interests to OLAF; and 3) authorize European Commission (EC) implementing acts on report criteria, standard forms, technical access, data protection, and ...